Monaco’s famous casino is a sight to behold. It has brought in the glitterati since 1863, and its gold-decorated Baroque rooms have enthralled more than a few gamblers.
It has a reputation as the place where the wealthy and glamorous converge for a few hours of epic ballerness. James Bond waggled his way through its hallowed doors (in both Golden Eye and Never Say Never Again). He wasn’t the first.
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The Casino de Monte-Carlo has been the emblem of luxury gaming for more than a century. It was once Monaco’s main source of income, but the Principality began diversifying its economy in the 1990s. The casino is renowned for its French Renaissance decor and grand gaming rooms, and it has appeared in several films, including GoldenEye and Never Say Never Again. It is also home to a prestigious ballet and opera company. The croupiers in the Casino are known for their impeccable service, but they also play to win.
The minimum bet at the main casino floor is EUR5, but it can be as high as EUR2000 in private rooms. The rules are strict, with plexiglass dividers in place to control the number of people playing. The casino is run by the Societe des Bains de Mer, which owns hotels, restaurants and sports clubs in the Principality. It is forbidden for Monegasque citizens to gamble in the casino, and members of the princely family are also excluded due to a law passed in 1987 to prevent dealers from helping their families.
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The Casino de Monte Carlo is a stone’s throw from the Mediterranean sea, and its name is synonymous with wealth, high-living, and hedonism. It is the setting for the James Bond films Golden Eye and Never Say Never Again. It is also where Danny Ocean’s gang wages their bets in Ocean’s Twelve. It is a place where fortunes are made and lost in the blink of an eye.
The casino’s senior technical gaming manager, Jerome Tachoires, has been at the institution for 30 years. He runs the in-house workshop that fabricates the casino’s kits, including its roulette wheels. He’s also in the know when it comes to the idiosyncratic rules of Monte-Carlo gambling and can point out small, polished placards that signpost playing requirements on each table.
The casino offers American-style games as well as traditional European roulette. One junior croupier tells me that the house edge of European roulette is lower than its American counterpart. It’s because of this that many visitors flock to Monaco for this game.
Taxes on winnings
In Monaco, the casino is a major attraction that attracts many visitors. It has a reputation as the playground of the rich and famous, even earning it a spot in James Bond films and Danny Ocean’s Ocean’s Twelve. Its opulent rooms feature chandeliers, marble statues and stained glass windows. Patrons compete against the house on games of chance using imitation money.
In the middle of the 19th century, Monaco was in financial dire straits and its rulers were desperate for new sources of revenue. Princess Caroline, the shrewd wife of Prince Florestan I, came up with the idea of building a casino that would attract wealthy visitors and make the ruling family money.
She recruited Francois Blanc, who had successfully ran casinos in other European countries. He formed a company called Societe des Bains de Mer et du Cercle des Etrangers to manage the new casino. Today, Monaco’s government and the ruling princely family have a controlling share of the company.
Taxes on losses
The Casino de Monte Carlo is a landmark in Monaco and attracts visitors from all over the world. Its beauty and history make it a must-see. It is also home to several international poker tournament finals. In 2007 US poker pro Gavin Griffin won a record pot of more than EUR1.8 million. He is known as the first player to win three major poker titles and has become a legend in the game.
In the early 1860s Monaco was in dire financial straits. The ruling family’s persistent financial problems were made worse by the loss of revenue from two breakaway towns – Menton and Roquebrune – that had declared independence and refused to pay taxes on olive oil and fruit imposed by the Grimaldis.
Princess Caroline, the shrewd and business-minded wife of Prince Florestan I, came up with an idea to attract visitors and make money through a new gambling casino. The casino was a success, and its profits helped Monaco survive.
